Philanthropist to Announce Committing $50 Million in Milwaukee

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Posted: 1:16 PM May 11, 2008 Philanthropist to Announce Committing $50 Million in Milwaukee MILWAUKEE (AP) -- A newspaper says philanthropist Joseph Zilber is scheduled to announce tomorrow that he's committing $50 million during the next 10 years to improve life in Milwaukee's low-income neighborhoods. Reporter: Associated Press

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MILWAUKEE (AP) -- A newspaper says philanthropist Joseph Zilber is scheduled to announce tomorrow that he's committing $50 million during the next 10 years to improve life in Milwaukee's low-income neighborhoods.

The Milwaukee Journal Sentinel says the goal, according to a draft of Zilber's remarks, is "to revitalize Milwaukee's neighborhoods and reconnect all of her citizens to social and economic opportunity."

The effort is to be called the Zilber Neighborhood Initiative, and is to involve working with local organizations to support specific efforts to improve the quality of life in up to 10 neighborhoods.

The Journal Sentinel says the 90-year-old Zilber is aiming to spark at least $150 million in additional grants by others, including philanthropists, businesses and foundations, with the goal of creating a $200 million pool of resources to benefit Milwaukee.

Zilber earned his wealth as a real estate developer in Milwaukee and in other places.

Milwaukee Mayor Tom Barrett called the move an unbelievably generous gift to the city.